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Universal Logistics Holdings (NASDAQ: ULH) opened 2021 with record first-quarter financial results, posting $415.2 million in operating revenue, an 8.6% year-over-year increase.
The transportation and logistics services company released its first-quarter financial results on Friday, reporting year-over-year increases in its truckload, logistics, dedicated services and brokerage segments. The year-over-year top-line revenue increase can be attributed to growth in four of the five service lines, Tim Phillips, Universal Logistics CEO, said during the company s earnings call on Friday. Dedicated services lead the way, growing over 50% on a year-over-year basis. Brokerage and value-added services also experienced double-digit growth, increasing 12.8% and 12%, respectively, compared to the same period last year, Phillips said. Strong pricing also led to growth in our truckload services.
Universal Logistics reports record Q1, declares cash dividend
Trucking and brokerage segments post gains in operating revenue; intermodal declines 6% 3 minutes read Universal Logistics Holdings reported year-over-year increases in its truckload, logistics, dedicated services and brokerage segments for the first quarter of 2021. (Photo: Jim Allen FreightWaves)
Universal Logistics Holdings (NASDAQ: ULH) opened 2021 with record first-quarter financial results, posting $415.2 million in operating revenue, an 8.6% year-over-year increase.
The transportation and logistics services company released its first-quarter financial results on Friday, reporting year-over-year increases in its truckload, logistics, dedicated services and brokerage segments.
“The year-over-year top-line revenue increase can be attributed to growth in four of the five service lines,” Tim Phillips, Universal Logistics CEO, said during the company’s earnings call on Friday.